MICHAEL RANTTILA - 01 Mar 2022 Form 4 Insider Report for MIDDLEFIELD BANC CORP (MBCN)

Role
Bank Chief Financial Officer
Signature
Michael C. Ranttila by James R. Heslop, II Power of Attorney
Issuer symbol
MBCN
Transactions as of
01 Mar 2022
Net transactions value
+$8,422
Form type
4
Filing time
03 Mar 2022, 14:32:40 UTC
Previous filing
25 Feb 2022
Next filing
05 Dec 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MBCN Common Stock Award $15,414 +604 +53% $25.52 1,736 01 Mar 2022 Direct F1, F2
transaction MBCN Common Stock Tax liability $6,992 -274 -16% $25.52 1,462 01 Mar 2022 Direct F2
holding MBCN Common Stock 2 01 Mar 2022 as Custodian for Grandson

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding MBCN Conditional Stock Award 2,016 01 Mar 2022 Common Stock 2,016 $24.80 Direct F3
holding MBCN Conditional Stock Award 1,765 01 Mar 2022 Common Stock 1,765 $22.50 Direct F4
holding MBCN Conditional Stock Award 891 01 Mar 2022 Common Stock 891 $26.09 Direct F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Acquisition represents the vesting of performance shares granted to the reporting person on March 1, 2019, which vested on the third anniversary of their grant date based upon the Company's total shareholder return.
F2 Includes shares acquired under the MBCN Dividend Reinvestment Plan.
F3 Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. Vesting is subject to a time-based or service condition and a performance-based condition. The details of the vesting conditions may be found in a Form 8-K filing dated February 25, 2022.
F4 Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. Vesting is subject to a time-based or service condition and a performance-based condition. The details of the vesting conditions may be found in a Form 8-K filing dated February 25, 2021.
F5 Until the award vests, the award confers no right to vote, no right to dividends, and no other shareholder rights to the recipient. Vesting is subject to a time-based or service condition and a performance-based condition. The details of the vesting conditions may be found in a Form 8-K filing dated February 26, 2020.